Tech Stocks Regain Their Edge

Technology stocks reclaimed their leadership of the stock market Wednesday, driving the Nasdaq composite index higher as investors bought shares of chip makers, Internet companies and beaten-down biotech firms.

The Nasdaq rose 153.07 to close at 4,864.75.

The Dow Jones industrial average slipped 40.64 to 10,866.70.

Strength in technology also helped the broad Standard & Poor’s 500 to a record high. The S&P 500 rose 6.77 to 1,500.64, capping a steady advance in recent weeks that was often overshadowed by the volatile swings of the Nasdaq and Dow.